Scholastic Corporation (SCHL) Short Interest Update
Scholastic Corporation (NASDAQ:SCHL) was the target of a significant growth in short interest in September. As of September 29th, there was short interest totalling 1,248,574 shares, a growth of 55.5% from the September 15th total of 802,692 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 279,967 shares, the days-to-cover ratio is currently 4.5 days.
Scholastic Corporation (SCHL) opened at 36.88 on Thursday. The company has a market capitalization of $1.29 billion, a P/E ratio of 46.74 and a beta of 0.73. Scholastic Corporation has a 12-month low of $33.51 and a 12-month high of $49.38. The company’s 50 day moving average price is $37.90 and its 200-day moving average price is $41.23.
Scholastic Corporation (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.33). The company had revenue of $189.20 million during the quarter, compared to analysts’ expectations of $208.00 million. Scholastic Corporation had a return on equity of 3.57% and a net margin of 1.71%. The business’s revenue for the quarter was down 33.1% compared to the same quarter last year. During the same period last year, the company earned ($1.15) earnings per share. Equities analysts forecast that Scholastic Corporation will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, October 30th. Scholastic Corporation’s dividend payout ratio (DPR) is 77.92%.
SCHL has been the subject of a number of recent research reports. BidaskClub lowered Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Zacks Investment Research cut Scholastic Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Stifel Nicolaus restated a “hold” rating on shares of Scholastic Corporation in a report on Thursday, September 21st.
Several large investors have recently bought and sold shares of SCHL. BlackRock Inc. lifted its position in shares of Scholastic Corporation by 47,605.6% during the first quarter. BlackRock Inc. now owns 3,344,642 shares of the company’s stock worth $142,381,000 after acquiring an additional 3,337,631 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Scholastic Corporation by 51.3% in the second quarter. Acadian Asset Management LLC now owns 554,380 shares of the company’s stock worth $24,164,000 after buying an additional 187,938 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Scholastic Corporation by 5.6% in the second quarter. Alliancebernstein L.P. now owns 2,007,484 shares of the company’s stock worth $87,506,000 after buying an additional 107,349 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Scholastic Corporation by 28.4% in the second quarter. Neuberger Berman Group LLC now owns 381,815 shares of the company’s stock worth $16,643,000 after buying an additional 84,451 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Scholastic Corporation by 6.7% in the second quarter. Northern Trust Corp now owns 1,196,201 shares of the company’s stock worth $52,143,000 after buying an additional 75,333 shares in the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.
About Scholastic Corporation
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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